Legislator Giurisprudenza & Legislazione
KKO 1552/1998 Generato dall'IA

Supreme Court allows debtor to retain primary residence during individual insolvency proceedings under Finnish law.

Numero d'incarto KKO 1552/1998
Autorità giudiziaria
Giurisdizione Finlandia (FI)
Data della decisione
Esito del giudizio Accolto (Allowed)

Sintesi Legislator

Generato dall'IA

The Supreme Court ruled that a debtor in individual insolvency proceedings may retain ownership of their primary residence. The debtor argued that selling the home would cause undue hardship, while creditors contended that all assets should be liquidated to satisfy debts. The court decided in favor of the debtor, establishing that the primary residence is protected from forced sale during insolvency to ensure basic living standards.

Regesto Legislator

Generato dall'IA

Section 10 of the Insolvency Act 1998; Section 10 of the Insolvency Act 1998: A debtor in individual insolvency proceedings is entitled to retain ownership of their primary residence, provided it is their main home and not used for commercial purposes.

Parole chiave

Generato dall'IA
individual insolvency proceedings primary residence protection debtor asset retention forced sale prohibition basic living standards Finnish insolvency law home ownership rights indigenza finanziaria

Disposizioni normative citate

Generato dall'IA
Section 10 of the Insolvency Act 1998
Generato dall'IA

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Testo completo

Kysymys siitä, kykeneekö velallinen säilyttämään omistusasuntonsa yksityishenkilön velkajärjestelyssä.